William Blair analyst Adam Klauber has maintained their bullish stance on AII stock, giving a Buy rating today.
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Adam Klauber has given his Buy rating due to a combination of factors including American Integrity Insurance Group, Inc.’s strong earnings performance and strategic policy assumptions. The company reported an impressive EPS of $1.95 in the first quarter, largely driven by the assumption of citizens’ policies, favorable weather conditions, and positive frequency trends in Florida. These factors have contributed to a significant growth in gross written premiums, with a 44% increase reported.
Furthermore, Klauber highlights the improvement in the company’s underlying loss ratio and expense ratio, resulting from the citizens’ policy assumptions and reduced claims frequency. This has led to a remarkable 33% year-over-year improvement in the combined ratio. With the stock trading at a discount compared to its Florida homeowner peers and the potential for continued earnings growth, Klauber maintains an Outperform rating, suggesting a promising outlook for investors.
In another report released today, KBW also maintained a Buy rating on the stock with a $23.00 price target.